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US open: Dow Jones looks to extend November win streak

Mon 20 November 2023 14:17 | A A A

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FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

7434.47 | Negative 26.23 (0.35%)

Prices delayed by at least 15 minutes

(Sharecast News) - Wall Street stocks were higher at the opening bell on Monday as major indices searched for direction following a recent hot streak.

As of 1455 GMT, the Dow Jones Industrial Average was up 0.11% at 34,984.86, while the S&P 500 advanced 0.21% to 4,523.32 and the Nasdaq Composite came out the gate 0.59% firmer at 14,208.15.

The Dow opened 37.58 points higher on Monday, extending gains recorded in a winning week for the blue-chip, fuelled by tame inflation numbers that gave traders hope that the central bank may soon soften its tough stance on interest rates.

Interactive Investor's Richard Hunter said: "Markets are continuing to bask in the sunlight of easing monetary conditions, with each of the three major US indices posting gains for the third successive week, resulting in a positive November performance so far.

"The latest inflation data added to hopes that the Federal Reserve could still be on track to engineer a soft landing for the economy, with the consensus firmly of the opinion that the interest rate hiking cycle has now ended. Indeed, traders are already debating the timing of potential interest rate cuts as the next development, with summer currently gaining popularity as a possible return to easier monetary measures."

Monday will be a quiet day on the Street, with no major economic data scheduled for release. However, in the corporate space, video conferencing giant Zoom will publish its latest set of quarterly earnings after the close of trading.

Also drawing an amount of investor attention, tech giant Microsoft hired ousted OpenAI chief executive Sam Altman to head up its new advanced AI research team. Microsoft chief executive Satya Nadella announced the surprise move on Monday, just days after Altman was forced out of OpenAI.

As far as the rest of the week goes, the Federal Reserve's meeting minutes will be the main event as the US prepares for Thanksgiving on Thursday. Traders will thumb over the minutes for signs that the Fed has indeed finished its interest rate rising prrogramme following weaker-than-anticipated CPI figures. Elsewhere, existing home sales, durable goods orders, and the University of Michigan's consumer sentiment index will all be published this week.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $214.41 3.06%

Microsoft Corp. (MSFT) $375.53 1.54%

Salesforce.Com Inc. (CRM) $223.19 0.89%

Intel Corp. (INTC) $44.02 0.48%

McDonald's Corp. (MCD) $276.69 0.34%

American Express Co. (AXP) $163.06 0.31%

Chevron Corp. (CVX) $144.84 0.26%

Verizon Communications Inc. (VZ) $36.31 0.23%

Walmart Inc. (WMT) $155.67 0.21%

Visa Inc. (V) $250.06 0.20%

Dow Jones - Fallers

Caterpillar Inc. (CAT) $249.15 -1.55%

Unitedhealth Group Inc. (UNH) $533.64 -0.49%

Dow Chemical Co. (DOW) $51.46 -0.46%

3M Co. (MMM) $94.92 -0.44%

Johnson & Johnson (JNJ) $149.18 -0.40%

Travelers Company Inc. (TRV) $171.14 -0.40%

Goldman Sachs Group Inc. (GS) $338.06 -0.33%

JP Morgan Chase & Co. (JPM) $152.38 -0.29%

Home Depot Inc. (HD) $306.43 -0.27%

Coca-Cola Co. (KO) $57.11 -0.26%

S&P 500 - Risers

Boeing Co. (BA) $214.41 3.06%

Autodesk Inc. (ADSK) $221.37 1.86%

Marathon Petroleum Corporation (MPC) $150.19 1.55%

Microsoft Corp. (MSFT) $375.53 1.54%

FMC Technologies Inc. (FTI) $20.94 1.50%

HF Sinclair Corporation (DINO) $54.40 1.34%

Marathon Oil Corp. (MRO) $25.90 1.33%

Apache Corp. (APA) $37.29 1.14%

Under Armour Inc. Class A (UAA) $7.76 1.04%

Helmerich & Payne Inc. (HP) $38.44 1.02%

S&P 500 - Fallers

International Paper Co. (IP) $31.95 -4.28%

Packaging Corp. Amer (PKG) $149.97 -3.44%

Westrock Company (WRK) $36.84 -2.82%

United Rentals Inc. (URI) $467.71 -2.76%

CenturyLink Inc. (LUMN) $1.32 -2.48%

Prudential Fincl Inc. (PRU) $93.55 -2.30%

Citizens Financial Group, Inc. (CFG) $27.14 -2.27%

Brighthouse Financial, Inc. (BHF) $49.60 -2.05%

Hanesbrands Inc. (HBI) $4.02 -1.95%

Eversource Energy (ES) $57.39 -1.91%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $28.41 2.90%

Qurate Retail Inc. (QRTEA) $0.64 2.02%

Autodesk Inc. (ADSK) $221.37 1.86%

Microsoft Corp. (MSFT) $375.53 1.54%

Workday, Inc. (WDAY) $235.13 1.50%

Sirius XM Holdings Inc (SIRI) $5.14 1.28%

Intuitive Surgical Inc. (ISRG) $308.33 1.00%

Booking Holdings Inc. (BKNG) $3,165.51 0.97%

Incyte Corp. (INCY) $54.77 0.92%

Biogen Inc (BIIB) $230.01 0.88%

Nasdaq 100 - Fallers

Liberty Global plc Series C (LBTYK) $17.28 -1.06%

Liberty Global plc Series A (LBTYA) $16.13 -1.04%

J.B. Hunt Transport Services Inc. (JBHT) $176.99 -0.61%

Wynn Resorts Ltd. (WYNN) $86.35 -0.60%

Skyworks Solutions Inc. (SWKS) $93.65 -0.58%

Mondelez International Inc. (MDLZ) $70.29 -0.48%

eBay Inc. (EBAY) $39.95 -0.47%

Cognizant Technology Solutions Corp. (CTSH) $69.23 -0.43%

Fiserv Inc. (FI) $123.61 -0.38%

Micron Technology Inc. (MU) $77.30 -0.34%

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